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DBS launches robo-investment platform to woo non-investors
IN a bid to convince customers to overcome their inertia for investing, DBS has launched a platform that combines robo-investment and the expertise of portfolio managers.
Based on their risk appetite and requirements, investors can choose from two portfolios. The Global Portfolio offers a minimum investment amount of S$1,000 and a flat management fee of 0.75 per cent per annum, with access to 700 to 1,000 securities.
The Global Portfolio Plus requires a S$10,000 minimum investment and a tiered management fee of 0.75 per cent to 0.85 per cent per annum, depending on portfolio value. It allows access to 1,300 securities and is "tactically adjusted to capitalise on market movements".
Both choices come with no sales charge, platform fee and lock-in period, and are available in three different risk levels.
The investment platform, called DBS digiPortfolio, taps a team of portfolio managers previously accessible only to private banking clients, said DBS. The team curates the portfolios available on the platform, monitors the market regularly and initiates rebalancing where necessary.
Meanwhile, robo-technology automates processes such as back-testing, rebalancing and monitoring as well as displaying all trade activities.
digiPortfolio was developed in partnership with Hong Kong-based robo-advice startup Quantifeed. It was made available on Monday to DBS Treasures clients, who have assets under management (AUM) of S$350,000 and above. It will be rolled out to all retail investors by the end of 2019.